#TwoforTuesday – Rate and Term not Cash out! Many questions recently on combining a 1st and 2nd mortgage on non-agency, FHA and Conventional loans. Including paying off an ex-spouse from a divorce decree. Today’s guideline day so I go over these instances and what makes it cash out or rate and term ↓
Ready? Set – GO! – I’m in the office taking “I gotta guy” questions on all types of scenarios. Let’s chat and make a loan out of your scenario. I absolutely love helping LO’s structure loans to get them done, and done right the first time. Don’t be shy, all you need to do is text the word Juiceman to 33655 and you’ll get my virtual business card. On it is all my contact info. Submit me a scenario and I’ll respond immediately.
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#TwoforTuesday – Departing primary and identity of interest transactions guidelines on today’s guideline episode! Check it out, lots of questions regarding these two things right at the beginning of the year. Seems many people are “moving up” or “down-sizing” and want to either rent out their existing home and buy new, or sell their current home to their kids for example.
Departing primary, best thing to remember here, is if the new home is less than 100 miles away and the client wants to retain and rent out their departing primary residence then go conventional. It’s allowed. When it comes to selling your home to a family member, assuming it’s a primary residence of say “Mom and Dad” and they want to sell it to JR. (The Son or Daughter) Then as long as the kid has not “moved back in” then you can sell the home without LTV restriction. Once the kid has moved in, they have to pay rent for 6 months in order to buy the home. Seek professional advice from your local Mortgage broker prior to having a bunch of people move. 🙂
This THURSDAY – I’m doing what will be an #EpicWebinar for LO’s to learn how to gain more leads on social platforms, and how to increase referral partners using information that you already have! It’s a full monte how to #Brand webinar that I will do inside of 30 minutes. You’re not going to want to miss the JUICE flowing in this. Plus for all those that show up I’ll be giving away the #10DaysofPain follow up sequence. A proven set of emails to use when following up that convert!
Here’s the link to join –> JUICY WEBINAR
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#TwoforTuesday – Back to basics as a reminder in the new year, Collections and Disputes on FHA are covered today! Know this off the top of your head. There is magic numbers to both of these, know them, and if the net amount on any credit report is less than the magic number ignore it and run it through DU.
FHA is a strong suit of mine, and I’ve always excelled at getting these done. We have 203B, and 203H FHA loans, as well as CalHFA opportunity for those in California. In all reality any FHA loan can be accompanied by some DPA, just LO’s don’t look them up. If you find one that will meet us at the table with the money, run it by me, odds are we can do it. Here’s a website to help you find them; http://www.downpayment.org
I’m growing and helping brokerages grow too. Do you have a want to hire more LO’s this year? Let’s chat, we can talk strategy for that. Do you want to start an online presence or make the one you have actually get you names, phone numbers and emails? We can do that too! All I ever look to do is help on a few loans here and there. (Small piece of the pie) #LetsDoBusiness – Take the 10 minutes it takes to print sign and send back a 12 month committment to do business. At which point I’ll earn my right to stay in your lending arsenal. I’ll add that much value, that’s a promise. CLICK HERE
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#TwoforTuesday – Important Dates! My appraisal connections will appreciate this. Today I go over important dates on the documents of a mortgage and how long they are good for. This is measured from last date on the documents to the note date. I ♥ guidelines and will promise to continue to detail my scenarios and guideline experiences as we grow and do business in 2019!
Today, I am going to simplify the mortgage process by going over how old any one thing can be. Title, Assets, Income, Appraisal, Credit all have time frames for which the documents that make up a mortgage can expire. These are you important dates to remember! ↓
Plan and simple, I want to help you get PAID! Two for Tuesday right! I want to help you complete a loan and we can help you #GetOnPoint by having #BluePointMtg disclose for you. We need these simple 5 things! ↓
Oh and of course if you want to partner with us to just that (get paid on a loan that closes) feel free to CLICK HERE!!
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#TwoforTuesday – Flood policies and commission income guidelines are the two newest changes per DU 10.3 updates! And today we touch base on what this really means. EQUALITY for all commission income!! And make sense updates that make lending easier. All the while making DU updated to be more intelligent.
Two guides, simple to understand, and greatly needed. I think Fannie is on to something in making guidelines make ‘common sense’ more. 🙂 If you’re tired of overlays and want to work with a company that goes by the guidelines, has little to no overlays, and does make sense underwriting, then CLICK HERE! #LetsDoBusiness
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#TwoforTuesday – NAMB National review and my why today!! Loved the show, the National NAMB show is definitely the one to go too! 5 Stars NAMB! Great opening ceremony, great speaking events from various industry leaders and technology companies, and very classy wrap up event with special guests Boyz 2 Men!
#TakeAShot for an #EchoDot campaign was great! We pulled a ton of people over to the booth to take a basketball shot, and if they made two in a row they won! Super awesome to be a guest on Mortgage News Network, and such a great time seeing old colleagues and current, past and future clients! I had several people recognize me from my silly videos and tell me they watch me on TV all the time. LOL!!
From my take, I am super glad to be positioned with a company poised for success as our product mix features so many niche programs for our mortgage broker partners! NON-AGENCY and NICHE programs were the talk of the town BIG TIME! And I can’t wait to be reaching out to all the new connections this week from the show! Everything I do has always centered around my WHY – And it’s the #Twins bday today, happy birthday #Noah and #Luke!
If you want to see some of the great programs that you can get on point with BLUEPOINT MORTGAGE – CLICK HERE! This show was the first show for #BluePointMtg and was a great success!
5 Star Review NAMB! Great Show!
#TwoforTuesday – One of my favorite to write. This week I want to highlight the biggest change recently in the mortgage industry and a guideline I found out in a group! The power of groups is huge, if your not in them you’re missing out. I’m in so many I sometimes miss my own groups engagements. In the past three weeks I’ve done two different campaigns for 203H loans and have generated over 75 leads completely FREE from groups. I did it in CA and in FL/GA groups on Facebook of course.
The other day I found out in a group about a VA guideline I didn’t know. If a Veteran has filed for the disabled veteran status, they do a #VAloan and then later on can send the paperwork into the VA and since they were not exempt at time of loan, get a principle reduction of the VA funding fee later on. Crazy, I didn’t know that. Found out in a group full of LO’s that guideline. As long as the filing was prior to the loan, they can do this. If your an LO, join Sales Talk with Mortgage Pro’s group along with 4500 others!
The biggest announcement I’m sure you’ve seen is that LOAN AMOUNTS have been increased for conventional conforming limits. This is a good sign. And hope to see FHA’s loan limits increase with it, but that’s yet to be announced. The difference in a #MortgageBroker compensation on a 453,100 deal now, versus the new loan limit of 484,350 is 859 dollars. Yep, an average comp plan with a mortgage broker will almost make another nine hundred dollars more in commission due to having a larger loan size. Another reason why broker’s are better. If you’re a mortgage broker and want to get on point with more #Niche programs for 2019 – CLICK HERE! We’re partnering with true “partners” as we go into 2019, and personally I will be helping as many as I can grow their business. Let’s start now!
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PS – Ready for a video yet? I am, Thursday is the day! Stay tuned!
#TwoforTuesday – Lunch-N-Learn on gift funds today! Today I go over the guidelines for gift funds on FHA & Conv loans when a wire is sent directly to escrow/title! What’s needed? Watch the video below ↓
Getting loans done one loan at a time! Full files are best, but ops @BluePointMtg supports our team and get’s it done! A list of #niches we can help you with;
- DACA Loans (Conv only)
- FHA/VA Loans down to 550 FICO
- Bank Statement Loans (24 months/12 months & 3 months bk statement programs)
- Agency & non-agency fall out (got one with shorter times from a BK/Foreclosure/SS?)
- JUMBO Loans up to 5 million
- Conventional Approved/Eligible Loans – DU or LP!
- Reverse Loans (Make 6k on the front and 5% on the back)
#GetOnPoint with #BluePointMtg today! – CLICK HERE to sign up!
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#TwoforTuesday – I have a proposal today for any broker in FL/GA/SC that’s interested in gaining some new business in the next 7 days. I will do this free for anyone that signs up or is already signed up and licensed in these states. The reality is this a great way to #Segment and to make impact to your local community. It’s simple, and it’s easy to do to market to a specific Geographic area on Facebook.
Sign up with BluePoint Mortgage this week and I’ll make a free tool for you to use, and then show you how to use it. Yes, you read that right. I’m talking about Facebook funnels or lead capture aimed with a campaign to help your local community that may have been impacted by recent natural disasters. Hurricane Michael. ↓
I have a funnel for this called MarketME – Here check it out -> CLICK HERE
If you’re interested in getting approved CLICK HERE
Better yet, if you’re interested in gaining your own version of this tool to make any and all types of campaigns –> CLICK HERE – I’ll even show you how to make ads and use the tool.
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#TwoforTuesday – Commonly asked questions today for guidelines! FHA collection rule and the rules for combining a 1st and 2nd mortgage. FHA & Non-agency work vary similar in regards to their guidelines. Whereas conventional, there is always a catch 22. Check it out in today’s Two for Tuesday guideline video! ↓
Right now more and more Mortgage Broker’s are looking for structure to save the day. And structuring loans takes experience and skill. I ♥ doing it personally and will be in the office all day helping Broker’s do just that. #Structureloans to #GetOnPoint with #BluePointMtg. CLICK HERE TO DO THE SAME!
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Email me, text me, call me, DM me or better yet Text Juiceman to 33655!